EUR/GBP
Momentum remains strong, and after the break above 0.8815/20 resistance, the next notable level is 0.90 (psychological resistance), followed by 0.9080. However, it will not be easy for EUR/GBP to clear those levels and the pair is looking increasingly overbought on all timeframes, so it is worth keeping an eye on it for potential short opportunities.
USD/JPY
Remains very well bid and has cleared three major resistance levels without much difficulties this week. Much depends now on tomorrow's NFP print. A strong number could easily push USD/JPY towards 105.50/60, where it could encounter heavy resistance due to the importance of the level in the past, and the fact that the 76 % Fibo from the July-August decline lies there as well.
AUD/USD
Is resilient, but it continues to look rather heavy after several failures at 0.77 resistance. It feels like that we'll only need solid US employment figures for downside momentum to increase properly and send the Aussie towards 0.7450.
USD/NOK
The following chart is something for the long-term traders. USD/NOK had a strong rally in 2014, fuelled by the decline in Oil prices that weakened Norway's economy and the rise of the USD. However, with the bounce in Oil, sentiment has shifted and USD/NOK broke sub-8.00 today. It still feels too early to get bearish, but it is certainly a chart worth watching for swing traders. If US employment data disappoints while Oil continues to rally, a NOK short squeeze could occur and push USD/NOK back into the lower 7.00s.
